Posted by William Charles on February 5, 2015
Credit Cards

Published on February 5th, 2015 | by William Charles

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Synchrony To Replace Chase As BP Credit Card Partner

Update: New cards have launched, you can read our full review of these here. If you are having troubles with your new account from Synchrony, I’d recommend contacting them directly. This site is not affiliated with Synchrony or Chase or BP.

BP is set to replace Chase with Synchrony (formerly GE Capital) as their credit card partner in the second quarter of 2015. Synchrony will be responsible for issuing co-branded and private label credit cards on behalf of BP. The co-branded credit cards will be able to be used at all of the BP locations and anywhere else credit cards are accepted. Whilst the private label credit cards will only be able to used at BP locations.

A representative from BP stated that they plan to release details about the new cards by the end of March 2015. They also stated that existing Chase BP cardholders would be transitioned onto the new cards. At the moment Chase offers two BP cards:

  • BP Visa® Card with Pump Rewards: 
    • 25¢ per gallon rebates for every $100 in purchases made in the first 60 days – except on purchases made at non-BP gas stations
    • After the first 60 days you’ll earn 15¢ in cents per gallon rebates for every $100 in purchases made at BP
    • Earn 5¢ in cents per gallon rebates for every $100 in purchases made everywhere else – except on purchases made at non-BP gas stations
  • BP Card with Pump Rewards: Earn 5¢ in cents per gallon rebates for every $100 in purchases made at BP

It’ll be interesting to see if Synchrony changes the reward structure on these cards or decides to keep it the same. With gas prices plummenting a fixed value rebate per gallon becomes a lot more attractive for consumers. Chase declined to comment for this story.



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I disagree that the card becomes more attractive at lower gas prices. You might “feel” like you are saving more – but your actual savings are exactly the same.

The rewards are earned at a $100 threshold, so the falling price of gas makes the rewards harder to obtain.

You should point out that the rewards on this card are really poor.

Compare to a 2% cashback card and you’d need a 13.3 Gal fillup to break even on the 15c/$100 at BP rate. Compare to a 5% card and it’s 33.3 Gal!

Nevermind the horrible 5c/$100 everywhere else – vs a 2% card that’s 40 Gallons!

I’ve had BP (then Amoco) since 1987. It’s gone from Amoco to BP to Citi BP to Chase BP now Synchrony. I just got my Chase BP renewal card this month so I guess I will expect another card sometime this year. I use it twice a year to keep it active since it is my oldest card. The rewards program doesn’t really mean much to me, but appreciate the post.

I don’t find the rewards to be very good, but they seem to be better than any other gas rebate card out there that I know of. When used at BP stations I get the cash price. That makes it better than using a 3% cash back card at the credit price (typically 10 cents more). At least until gas goes back up over $4/gallon.

The 15 cent per gallon is a marketing ploy for those that are good with math. It comes out to a 3% rebate. The price of gas has no bearing on this net 3% rebate/reward.

I meant not Good with math

Your discount is calculated on the money you already spent. The only thing the price of gas does is increase your spending thus reward earnings when the prices increases. The max rebate you currently earn with this card is 3% and that is only if you fill your car up with the maximum 20 gallons. If you have a smaller gas tank or use your rewards when your tank is half full, then you might as well just use a 1% cash back card.

I have the old green BP Visa cash reward card from Chase that I absolutely love. But come the end of April 2015, I will end my love relationship with Chase BP Visa. Chase sold the BP Visa to Synchrony Bank. I will close my Chase BP Visa account with a zero balance prior to the Synchrony Bank take over date. I will not do business with Synchrony Bank. Synchrony Bank is a consumers’ financial train wreck.

I also have the BP Visa Cash Rewards card from Chase (5% cash reward on BP purchases, 1% cash reward on all other purchases).

I am waiting for the cash rewards program on the BP Visa card from Synchrony. It likely will be much less generous, probably similar to the BP Pump Rewards program. If so, I will cancel and use the 2% cash reward card from Citibank (1% at time of transaction, 1% at time of payment) on all purchases.

jasper

I thought I was the only one that still had that 5% cash reward visa. Synchrony has been extremely hush hush about the new rewards structure too. I called them a couple times and nobody has any information (or is not willing to share it) about the new rewards program. I think it is extremely unprofessional to not have the rewards program details available prior to taking over this credit portfolio. I have not decided if I am going to continue using this account. I probably won’t close it because the account has been open for almost 4 years, but if the rewards suck I will use it just a couple times a year to keep it active.

I also have an older green BP visa issued back in 2007 with the 5% off all BP purchases, 1% everything else. I think the latest letter said everything would stay the same, but the horrible rewards structure that I saw from pump fliers just a couple years later makes me wonder if they will make changes to our cards.

When they changed to the less attractive formula I started using other cards that pay 5% on gas purchases (Discover and Sam’s Mastercard). What BP has offered in the past is really good deals on no interest balance transfers – a great way to finance a large purchase.

They may offer no interest but they still smack you with a 3% transfer fee. That’s no deal in my opinion.

You guys seem confident the original credit opening date will be maintained. I’m keeping my fingers crossed Synchrony doesn’t report a new opening date – for average credit age reasons.

Ronald Deatherage
Ronald Deatherage

How can I access my Chase account online?

Go to mybpcreditcard.com and re-register until the new cards are issued.

That won’t work if you don’t have your card yet ( like me) -because one needs a 3 digit code from the card to register.

I didn’t have the new card either, but if your Old Chase BP card is still active for purchases you can use that to register.

Their system appears to still have both cards in the system until re-issuance.

That’s why they told me to use the old card number and the new payment address to make a payment with my Bank Billpay prior to the new card receipt.

Not gonna use the old number that way but it did allow me to register before getting a new card.

Dan Richardson
Dan Richardson

You can’t.

Thomas Figlioli
Thomas Figlioli

Where do I send my May BP payment too. It’s already scheduled to go to chase and I’ve gotten nothing from you people telling me different. So that’s where it’s going until I’m notified of a different mailing address. What you do then is up to you. Since march I’ve gotten 10 letters but nothing explaining where the payments go. Good job on both your parts.

Glenda

Where do I go to pay my bill on line? I all ways pay online. I wish Synchrony Bank had not taken over. I like Chase better it was easy to pay your bill on line. I will not be using this card much,

There are several posts in this blog detailing how to get online access. Just read.

I have always paie bp on line .how do I pay on line with the new bpsacrony card?

Barb Robinson

I like going to the pumps and getting an instant lowering of price per gallon ,I wonder If they will continue that

I apologize William. I was redirected to this page for questions I had. I didn’t know it was your personal blog. My bad.

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